South Africa’s FDI outflows drop sharply to R21 billion in Q3 2025
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South Africa’s foreign direct investment (FDI) outflows fell sharply to R21.0 billion ($1.25 billion) in the third quarter of 2025, down from R73.5 billion in the previous quarter, according to data from the South African Reserve Bank’s Quarterly Bulletin released on December 15. The decline was driven mainly by Anglo American’s sale of its remaining stake in Valterra Platinum, the central bank said.
The reduction in outflows was partly offset by increased foreign investment in the media sector, led by French group Canal+ through its takeover of MultiChoice, which lifted foreign ownership levels in the industry.
Meanwhile, portfolio investment inflows slowed to R40.7 billion between July and September, down from R69.4 billion in the second quarter, reflecting more moderate investor appetite for local assets.
The latest quarterly data highlight a recalibration of South Africa’s external investment flows, with corporate restructuring in the extractive sector tempering outbound FDI while selective foreign acquisitions continued to support inward capital formation.
